Cyber Monday

Unbeknownst to many, today is the unofficial start of the online shopping season. The term "Cyber Monday" was coined by retail group Shop.org in 2005 after online retailers noticed a trend of increased shopping online the Monday after Thanksgiving. The group also cites that despite the continual growth of high-speed broadband connections in homes, Americans are still likely to shop at work: "54.5% of office workers with Internet access--or 68.5 million people--will shop at work today, up significantly from the 50.7 percent in 2006 and the 44.7% in 2005".

Special promotions are usually tied to Cyber Monday with retailers racing to get their email marketing a head start for the Christmas season. Black Friday sales and retail special deals from early last week will likely carry over today. However, the hype of Cyber Monday may be dying down. Experts predict a decrease in online spending due to future forecasts of declining economic conditions during the fourth quarter and into 2008. Regardless, a study by BizRate Research and commissioned by Shop.org found that "72.2 percent of online retailers planned a special promotion for Cyber Monday this year--up from 47.2 percent two years ago".

No comments: